Abstract
“Sustainable development” was the subject of the World Commission on Environment and Development’s report Our Common Future (WCED 1987), and was the focus of the “Earth Summit” in Rio de Janeiro in 1992. While defmitions abound (Pezzey, 1989), economic definitions have tended to focus on sustainable development as non-declining per capita well-being through time (Mäler, 1991; Pearce et al., 1989). In itself, sustainable development is potentially inconsistent with a conventional cost-benefit approach to intertemporal resource use, since it denies any option whereby net benefits now can be sacrificed for greater net benefits in the future, and vice versa. Non-declining well-being becomes an intertemporal equity objective, rather than an efficiency objective.
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Proops, J.L.R., Atkinson, G. (1998). A Practical Sustainability Criterion When There is International Trade. In: Faucheux, S., O’Connor, M., van der Straaten, J. (eds) Sustainable Development: Concepts, Rationalities and Strategies. Economy & Environment, vol 13. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-3188-1_11
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DOI: https://doi.org/10.1007/978-94-017-3188-1_11
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